how will you code using java and with a explanation with the code? thank you.

AP Computer Science Lab Methods and if Statements er Company runs a small factory. The company employs workers who are paid Banhill Fastene one of three hourly rates depending on skill level Hourly pay Rate () Each factory worker might work any number of hours per week, any hours over 40 are paid at one and one-half times the usual rate. In addition, workers in skill levels 2 and 3 can elect the following insurance options: opt ionRedical Explanation Medical Insurance Dental Insurance Long-Term Disability Insurance Weekly Cost of Rmployee ($) 32.50 20.00 10.00 Also, workers in skill level 3 can elect to participate in the retirement plan at 3% of their gross pay Write an interactive Java payroll application that calculates the nest pay for a factory worker The program prompts the user for skill level and hours' work, as well as appropriate insurance and retirement options for the employee's skill level category. The application displays: (1) the hours worked, (2) the hourly pay rate, (3) the regular pay for 40 hours, (4) the overtime pay, (5) the total of regular and overtime pay, and (6) the total itemized deductions. If the deductions exceed the gross pay, display and error message; otherwise calculate and display (7) the next pay after all the deductions have been subtracted from the gross. Save as Pay.Java 1. Create Methods in this lab for all appropriate items 2. Make sure your code is well organized and traceable 3. Try to not create unnecessary code Extra: If you want to create a class you can if you know how